HFF Arranges $28.9M in Equity for Development of Apartment Community in Orlando
ORLANDO, FLA. — HFF has arranged $28.9 million in equity financing for the development of Radius Apartments in Orlando. The 13-story, 389-unit community will be situated two blocks north of Lake Eola and less than a mile north of downtown Orlando. HFF worked on behalf of an affiliate of Banner Real Estate Group to arrange $14.9 million in joint venture equity from Westminster Capital LLC and $14 million in preferred equity through a blue-chip life company. The building is slated for completion in 2020 and will feature 12 stories of residential space situated above street-facing retail space on the first floor, an adjacent six-story parking garage and a public courtyard. The roof of the parking garage will be utilized as an amenity deck that will include a pool, cabanas, outdoor kitchen, dining and grilling area, bar and sun shelf.